Obamacare premium costs in Maryland set to jump as state approves rates

The Baltimore Sun reports:

The cost of premiums for plans sold on the state’s health exchange will soar for 2018, adding to questions about the stability and affordability of the health insurance program known as Obamacare.

State regulators announced Tuesday that they have approved average rate increases of just over 23 percent to nearly 50 percent, depending on the plan and carrier, increases that surely will burden consumers who get no government subsidies but also potentially still leave insurers in the red.

“Rates for individual plans have gone up well over 100 percent in 4 years,” said Chet Burrell, president and CEO of the state’s dominant insurer, CareFirst BlueCross BlueShield. “It’s the worst of all worlds now with very high premiums and at the same time carrier losses continue.”

Obama said this couldn't happen !